ASHEVILLE, N.C., Jan. 30, 2019 /PRNewswire/ -- On December 14, the victims or the greatest financial scandal since the scandal of Bernie Madoff received a letter from Laura Riso, Victim Specialist of the U.S. Department of Justice, Federal Bureau of Investigation. Her fax number is 212-384-8289.
Many victims made the mistake of not responding to this offer of help. Instead they responded to solicitations of several law firms attracted by the prospect of getting contingency fees of 35 percent of amounts that could be billions of dollars.
However, it is better to have the nation's top law enforcement agencies pursuing a case rather than paying a law firm large fee. Criminal cases pursued by our public servants pack far more punch.
In the Bernie Madoff scandal of a decade ago, Madoff is currently serving a 145 year sentence in a federal prison. The main difference is that his crime was regulated by the Securities and Exchange Commission, while this crime was under the jurisdiction of the Commodity Futures Trading Commission.
This difference probably explains the arrogance of the clearing firm of OptionSellers. It is trying to make the victims pay. When this clearing firm had liquidated the holdings of OptionSellers it billed the innocent investors for the losses. In cases successful as mine it billed them for over a million dollars.
They subsequently backed off this extreme position, but they paid victims less than 15% of what they had lost. It is expected that the House and Senate Agriculture Committees that have jurisdiction will have open hearings on this issue.
One victim is the lawyer who wrote the statute establishing the Commodity Futures Trading Commission in 1974. His blog can be read here.
There is also reference to his GoFundMe account there. It would be a far less expensive way to achieve some relief than paying trial lawyers a huge contingent fee.
SOURCE Mcleodaglaw LLC